Taiwanese life insurers opt for rare bullets
Taiwanese life insurers diversified further away from 30 year multi-callable zero coupon deals this week, buying rare 20 year fixed rate deals — some with calls and some rare bullets — from Australian banks this week.
The investors usually prefer multi-callable structures, but rising long-end rates mean the bullet format now often hits their yield targets."Long end rates have moved upwards so its not quite as necessary to go down the structured side," said a MTN dealer on Monday. "The problem with the callable ...
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